Getting out of the mortgage business

chango

chango

2,500+ Posts
I've been in the mortgage business for the last 9 years, working for the same large mortgage company. More and more (for obvious reasons) I'm thinking that I don't want to be a part of this industry anymore. I'm looking at sales mainly -- my degree is in Economics but all I've done since college is mortgages/sales. Any advice from anyone on either making the move or tips on what industries would be a good area to move into?
 
Man, sales is sales. You might have to start lower than you want, but if you are good at generating new revenue, then you will be promoted quickly.

My experience is in Tech and Service sales and I usually hire career changers into my white space areas to see how they can do. I never expect them to hit their number as that is controlled by corporate, but if I see 20% yty growth, then I move them to better accounts.

The point is make sure you highlight sales successes and new business generation and you will find a new gig pretty quickly. Your first job will suck, most likely, but it is my experience that anyone can sell if they are willing to work. Most good sales managers know that.
 
go into pharmaceutical sales. there's good money there, but its difficult to get in without sales experience. assuming you have good numbers to put on a resume and support in an interview, you'd have as good a shot as any. most pharm reps get salary, company car, commission, and a fairly exclusive territory - meaning you won't be competing with other reps from the same company for business. from there, you can look into medical device sales which can be even more lucrative.
 
no ****. Pharm sales is limited to smoking hot chicks ONLY.

That's the best part of working medical...having hot chicks bring you starbucks on a regular basis.
 
i know a few males in the pharm sales biz that kick major ***. having the ability to just ******** with people makes up for the tits/*** short comings.
 
A if yopu are not hot physically the Pharm industry is probably beyond your reach.

Funny- I have a buddy how just left the Appriasal industry and is starting tomorrow as a processor for a smaller firm (that has private equity backing) one year internship then moving into the loan officer realm. His thinking was he was gasping as his appraisal income collapesed but thinks that in a year the market might be stronger again and what other job might he have for as high an income. The owner of the firm recruited him to be one of three key people he thinks capable of running the business when he retires in a 3 to 5 years.

Sales is always the best career if you can put up the numbers.
 
Gardner Barnes is spot on. Sales is, in the end, sales.

Ask him what made him select me over other competitors for his roof (a big ticket item, but I don't know if it is deemed a "durable good").

If you go to a smaller company, you need to make sure they have been doing what they do for some time or you'll end up redesigning the wheel (or @ least explaining to the co. how axles work better than bolting wheels onto the frame).

I've worked for DeLL, Sprint & Yellow Freight & found that (for me) transactional business is OK, but relationship based selling is where I belong. For those who don't know, transactional = a repeat one time & gone (Target, Home Depot, etc) whereas relationship based takes longer to develop however there is sometimes less of a chance that you will work with them after the sale.

I'm no good with someone over my shoulder wanting me to push on to the next customer. Being self employed allows me to spend as much time as I want to with the client (I think I would do quite well if I was selling multi-million dollar yachts, but we don't have much of that here in Austin).

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